Biotech Acquisition Company, a blank check company formed by CRO and venture investor SPRIM targeting the biotech industry, filed on Thursday with the SEC for an initial public offering.
The New York, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. There it would command a market value of $250 million. Units consist of one share of common stock and one-half of a warrant exercisable at $11.50.
The SPAC is led by Chairman and CEO Michael Shleifer, co-founder and Managing Partner of SPRIM, along with several other SPRIM executives.
The New York, NY-based company was founded in 2020 and plans to list on the Nasdaq under the symbol BIOTU. Biotech Acquisition filed confidentially on September 21, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.
